BANGALORE: Motilal Oswal Private Equity Advisors has invested Rs 35 crore in Surat-headquartered Magicrete Building Solutions, which makes lightweight concrete blocks and panels. The firm will use the funding on expansion, sales and marketing.
“Our vision is to be the largest walling solution company in the next five years,” said Saurabh Bansal, founder, Magicrete.
Bansal, an industrial engineer from IIT-Kharagpur launched the firm in 2008 along with Puneet Mittal, a chartered accountant, using funding provided by a group of angel investors in Surat, Gujarat.
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Motilal Oswal PE invests Rs 350 mn in Magicrete Building Solutions
